UPDATE 1-MIDEAST STOCKS-Gulf markets mixed as oil pulls back

Dubai's index fell 0.9 percent as most stocks declined; the benchmark had surged 4.5 percent in the previous session.

But shares in property developer DAMAC jumped 3.2 percent after it reported an 11 percent rise in fourth-quarter profit on Monday, according to Reuters calculations.

Also, lender Emirates NBD added 1.1 percent after rating agency Moody's said in a report on Monday that Dubai World's second debt restructuring was credit-positive for the United Arab Emirates banking system and Emirates NBD in particular.